Press Release Archive - 2018

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New Largo Coal Proprietary Limited
New Largo Coal Proprietary Limited is a newly-formed entity owned by Seriti, Coalzar and the IDC to acquire and develop New Largo. The company intends to provide meaningful equity participation for management, employees and communities in its structure.

Seriti
Seriti is a broad-based, majority HDSA owned and controlled South African mining company, established with the aim of preserving and operating strategic energy assets for the benefit of South Africa and its people. Seriti is owned jointly by four strategic “anchor” shareholders, namely Masimong Group Holdings Proprietary Limited, Thebe Investment Corporation, Zungu Investments Company Proprietary Limited and Community Investment Holdings Projects. Seriti’s management team will be led by Mike Teke who has extensive mining experience through the acquisition, operation and development of Optimum Coal Mines and Koornfontein Mines which produced approximately 10Mtpa of saleable domestic and export thermal coal and the development of other large scale thermal coal projects. Seriti entered into a binding agreement for the acquisition of the Eskom-tied domestic thermal coal operations in South Africa from Anglo American in April 2017.

Coalzar
Coalzar is a broad-based, majority HDSA-owned South African company representing the interests of its shareholders who are focused on coal mining in the country. Coalzar is owned jointly by four shareholders, namely Attwood LM Investments Proprietary Limited, Elwood OM Investments Proprietary Limited, Voranex Proprietary Limited and Karongi Resources Proprietary Limited. Coalzar’s management team includes Pius Mokgokong and Lefa Mbethe, who have extensive coal mining experience having been involved in various coal operations in South Africa over the past 15 years including, through Liketh Investments Proprietary Limited, being involved in the operating of pit 5 at the Kleinkopje coal operations and having delivered over 20Mt of coal since 2003 to the Tutuka, Kriel, Matla and Khutala power stations.

IDC
IDC is a developmental funding institution, wholly-owned by the South African Government, established in 1940 by an Act of Parliament (IDC Act, No 22 of 1940) to promote economic growth and industrial development in South Africa and other parts of Africa. The IDC has significant South African mining exposure in the form of listed and unlisted investments.

Anglo American
Anglo American is a globally diversified mining business. Our portfolio of world-class competitive mining operations and undeveloped resources provides the raw materials to meet the growing consumer-driven demands of the world’s developed and maturing economies. Our people are at the heart of our business. It is our people who use the latest technologies to find new resources, plan and build our mines and who mine, process and move and market our products to our customers around the world.

As a responsible miner – of diamonds (through De Beers), copper, platinum and other precious metals, iron ore, coal and nickel – we are the custodians of what are precious natural resources. We work together with our key partners and stakeholders to unlock the long-term value that those resources represent for our shareholders and for the communities and countries in which we operate – creating sustainable value and making a real difference.

www.angloamerican.com